Russell Investments Group Ltd. Lowers Stock Holdings in KalVista Pharmaceuticals, Inc. $KALV

Key Points

• Russell Investments Group Ltd. has reduced its holdings in KalVista Pharmaceuticals by 60.3%, now owning 53,028 shares valued at approximately $612,000.
• Major institutional investors have increased their stakes in KalVista Pharmaceuticals, with Suvretta Capital Management LLC owning over 4.9 million shares after a 16.6% increase.
• Analysts have raised the price targets for KalVista Pharmaceuticals, with the average reaching $26.29 and a consensus rating of "Buy" from various brokerages.

Russell Investments Group Ltd. decreased its holdings in KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Free Report) by 60.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,028 shares of the specialty pharmaceutical company's stock after selling 80,544 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of KalVista Pharmaceuticals worth $612,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Octagon Capital Advisors LP acquired a new position in shares of KalVista Pharmaceuticals during the 4th quarter worth approximately $11,604,000. Frazier Life Sciences Management L.P. raised its position in KalVista Pharmaceuticals by 32.5% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 4,887,867 shares of the specialty pharmaceutical company's stock worth $41,400,000 after acquiring an additional 1,200,000 shares during the period. Stempoint Capital LP purchased a new position in KalVista Pharmaceuticals during the fourth quarter valued at $8,409,000. Vestal Point Capital LP grew its position in shares of KalVista Pharmaceuticals by 19.3% in the fourth quarter. Vestal Point Capital LP now owns 4,770,000 shares of the specialty pharmaceutical company's stock valued at $40,402,000 after purchasing an additional 770,000 shares during the period. Finally, Suvretta Capital Management LLC increased its stake in shares of KalVista Pharmaceuticals by 16.6% during the fourth quarter. Suvretta Capital Management LLC now owns 4,913,012 shares of the specialty pharmaceutical company's stock worth $41,613,000 after purchasing an additional 701,007 shares in the last quarter.

KalVista Pharmaceuticals Price Performance

Shares of KALV traded up $1.04 during mid-day trading on Thursday, reaching $15.20. The stock had a trading volume of 1,323,616 shares, compared to its average volume of 646,249. KalVista Pharmaceuticals, Inc. has a 52-week low of $7.30 and a 52-week high of $16.32. The firm has a market cap of $765.17 million, a price-to-earnings ratio of -4.12 and a beta of -0.10. The business's fifty day moving average is $13.70 and its 200 day moving average is $12.59.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last posted its earnings results on Thursday, July 10th. The specialty pharmaceutical company reported ($3.69) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($2.86). During the same quarter in the prior year, the business posted ($1.07) EPS. As a group, sell-side analysts anticipate that KalVista Pharmaceuticals, Inc. will post -3.56 EPS for the current fiscal year.

Insider Activity at KalVista Pharmaceuticals

In related news, insider Paul K. Audhya sold 2,942 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $13.22, for a total transaction of $38,893.24. Following the completion of the sale, the insider directly owned 119,841 shares of the company's stock, valued at approximately $1,584,298.02. This trade represents a 2.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Benjamin L. Palleiko sold 32,979 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $15.69, for a total transaction of $517,440.51. Following the completion of the transaction, the chief executive officer directly owned 369,595 shares in the company, valued at $5,798,945.55. The trade was a 8.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,710 shares of company stock valued at $880,764 over the last quarter. 4.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KALV. HC Wainwright raised their price target on shares of KalVista Pharmaceuticals from $20.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Leerink Partners raised their target price on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Monday, July 7th. Finally, JMP Securities boosted their price target on KalVista Pharmaceuticals from $19.00 to $27.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $26.29.

KalVista Pharmaceuticals Profile

KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, engages in the discovery, development, and commercialization of drug therapies inhibitors for diseases with unmet needs. The company's product candidate is Sebetralstat, a small molecule plasma kallikrein inhibitor targeting the disease of hereditary angioedema (HAE).